Russell Investments Group Ltd. Buys Shares of 1,398,458 Bilibili Inc. Sponsored ADR $BILI

Key Points

• Russell Investments Group Ltd. has acquired a new stake in Bilibili Inc., purchasing 1,398,458 shares worth approximately $26.7 million, which accounted for about 0.34% of the company.
• Several other hedge funds have also increased their positions in Bilibili, with institutional investors currently owning 16.08% of the company's stock.
• Analysts have varied opinions on Bilibili's stock, with ratings ranging from "strong buy" to "hold," and an average price target of $23.81.

Russell Investments Group Ltd. bought a new position in shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,398,458 shares of the company's stock, valued at approximately $26,725,000. Russell Investments Group Ltd. owned about 0.34% of Bilibili as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BILI. Federated Hermes Inc. raised its stake in Bilibili by 44,249.8% during the first quarter. Federated Hermes Inc. now owns 1,346,459 shares of the company's stock worth $25,731,000 after buying an additional 1,343,423 shares during the last quarter. XY Capital Ltd bought a new stake in Bilibili in the first quarter valued at $11,409,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Bilibili in the fourth quarter valued at $4,186,000. Public Employees Retirement System of Ohio bought a new stake in Bilibili in the fourth quarter valued at $2,689,000. Finally, Northern Trust Corp increased its stake in Bilibili by 164.2% in the fourth quarter. Northern Trust Corp now owns 235,099 shares of the company's stock valued at $4,258,000 after purchasing an additional 146,111 shares in the last quarter. Institutional investors own 16.08% of the company's stock.

Bilibili Stock Down 6.1%

Bilibili stock traded down $1.55 during midday trading on Thursday, hitting $23.76. 7,307,717 shares of the stock were exchanged, compared to its average volume of 2,880,081. Bilibili Inc. Sponsored ADR has a 52-week low of $12.72 and a 52-week high of $31.77. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of -118.79 and a beta of 0.94. The business's 50-day moving average price is $22.57 and its 200-day moving average price is $20.20. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Bilibili from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Hsbc Global Res raised shares of Bilibili to a "strong-buy" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. downgraded shares of Bilibili from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $21.00 to $24.00 in a research note on Monday, July 28th. HSBC reaffirmed a "buy" rating on shares of Bilibili in a research note on Tuesday, July 15th. Finally, Sanford C. Bernstein began coverage on shares of Bilibili in a report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.81.

Bilibili Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.